If I had a Million Dollars

Last week, quite a few yakezie bloggers posted about what they’d do if they had a million dollars – I thought it was interesting, so I figured I’d do post as well.  Unfortunately, the only way I can get to a million dollars is earning it the old fasioned/hard way, as I dont play the lotto or have a rich relative, so this will be a way out, and most likely by the time I do have a million dollars

  • it wont be “worth” that much
  • my list from right now will be drastically changed
That being said, lets have some fun!
First, I’d have to pay the tax man, and “Uncle whiskers” (as he’s known in my family on occasion) will take about 20%.  After that, I’d have about 800k to play with and here’s where it would go:
  1. I’d wipe out all of my debt.  Right now, that amount sits at about 30k.  This would include the car, both student loans and what’s left on my credit card.  Doing this would increase my monthly cash flow by $550 per month – which is quite a significant portion of my monthly earnings.
  2. I’d purchase a house.  Right now, this is something that I’m not doing for multiple reasons, and one is that I’d like to be debt free first.  The other is that in my version of “lifestyle design” I’m not sure exactly where I’d want to live? Right now, I live in the downtown area of my city, and am able to walk to work, which takes about 7 minutes.  I can ride my bike to go out on the weekends or to take in the other things that the area has to offer.  Basically the only times I drive my truck are running errands where I need to pick up quite a few things (like grocery shopping) or to the gym.  I’d have to say, that I really enjoy it, considering I’d been commuting 45 miles (1 way) to my old job.  However, I really want a piece of the american dream: land.  I want to grow a large garden, have a greenhouse, raise chicken, pigs, goats and other stock, and I just want a place that I can fence in and do with what I please.  However to have this, I’d have to live out of town – how far would depend on a few things, but those are irrelevant, but it means that I’d have to have a commute again.  I’d have to start chaining my trips so I’d have to go to the gym right before or after work, instead of having a break between as I do now.  It’s something that I havent really decided yet, and obviously H has a say as well.  Regardless of location, I’d buy a house next.  I’d estimate that this goal would take around 300k
  3. I’d take a vacation.  I’m not too sure where I’d go – I’d like to travel internationally, but I’d also like to go to every national park and monument in the US in my lifetime, so that would be on my list as well.  I’m not sure for how long this would be, but it’d be at least 2 weeks.  I’m not sure how much this will take, but I can conservatively estimate 10k.
  4. Invest.  I’m not sure how I’d do this, but possible options would be dividend producing stocks, cds, or buying an apartment building or office building.  I’d like to do property development or something that would produce income in the future.  I’d invest about 400k.
  5. Liquid Savings – I’d put the last 60k in liquid savings, for what, I’m not sure yet, but I’ll just park it there until I figure it out.

How much fun should you have while in debt

I have been working on getting out of debt for the last 13 months, during which I’ve been able to eliminate (and charge up again, and finally eliminate) my credit card debt, as well as a fair amount of student car loans.  During this time, quite a few changes have happened – I mostly finished school (more on that later), I was made a job offer that was eventually rescinded, was unemployed for the first month of my debt free quest, found full time employment but still searched for a job with benefits, found another job 2 months later, and have been working 2 jobs, at least 6 days and 70 hours per week since November.  As you can imagine, there’s not really that much time for a break to do much of anything but work (and write), but it’s a life that I don’t mind all that much.

Also during this time, I had been forgoing mostly anything that involved a trip until earlier this month.  I did plenty of things that I consider fun, mostly involving physical labor (in my mind, it’s really fun).  Unfortunately, I never got a chance to leave town and take a break from working to see new things and basically do nothing.

Back in February, I saw a deal from Frontier Airlines that I couldn’t pass up.  They were offering enough frequent flyer miles for a free ticket if you purchased a 1st class ticket (originating from a few airports) on the Frontier.  I had a gift card laying around that was nearing a year in age, so I decided that turning that gift card plus a bit of cash into two tickets was something I could divert a bit of cash from my debt repayment strategy from.  I bought a the ticket, and started planning (in my head, at least) my vacation to Alaska with the free miles.  Unfortunately, that was not to be, as it’s almost impossible to get to Alaska with frequent flyer miles.  I instead decided to go to Georiga.

I was able to pay for the whole trip with cash (although I occasionally used my credit card for the mileage points (so I can get more free tickets and more vacations) and it was the first time I think I’ve ever been able to do that.  When I got back (and sometimes during the trip), I couldn’t help but thinking that I’m not focused enough on my debt and should not have taken the vacation because it could have waited until I was out of debt.

When I got home, I decided to try to figure out how far behind it put me.  Unfortunately, the numbers are not good.  I estimated that without my vacation, I could have paid off my smallest student loan this month or come darn close to doing so.  Given the money that I spent plus the lost earnings from not being able to work, I’m fairly sure it would have been really, really close.

While this is all unfortunate, the more I thought about it, the more I was glad I did it.  I would have had to use that free airline ticket by Dec 31 either way, and I’m not sure I would have been able to find the time to go any other time.  That right there would be quite a bit of value that had evaporated that wouldn’t have been able to go to debt.  I also considered this trip a reward for being able to pay off my credit cards after almost 5 years of carrying a balance.

On the whole though this trip was more than worth it.  I had a great time with my travel companion, saw some really sweet stuff at the aquarium and the world of coke, and enjoyed not having to get up before 5am every day.  While I may not be as close to student loan debt freedom as I could be, the habits that I’ve picked up over the last year will continue to stay with me and make that day come at some point.  My vacation may have just pushed it down the road a bit.

To me, this does not seem like that big of a deal, but to some, it’s close to heresy.  Sure, 1 of my student loans could have most likely been paid off by the end of August (but I had not known that at the time) but taking a break from the work has sort of recharged me and has geared me up for another 5-6 months of 18-20 hour days, 20,000 more miles driven, and long work weeks.  If that were to change, however, I’d be all for that as well.

Have you ever spent money on fun when you were in debt, but in control of your debt?  Was it worth it?

Mountain West is the BEST

There has been a lot of comments flying around from the yakezie group on a few posts that financial samurai put up recently.  One was called East Coast Living: Is It Really That Bad? and the other was called West Coast Living – Yes, It Really Is That Much Better? I figured I’d chime in with my own post about the region where I live (which is the Mountain West, and includes the states Colorado, Utah, Wyoming, Montana and Idaho).  On Wednesday, Red posted why she thinks the south is the best

This, My Friends, Is Why The Mountain West is the Best!

Tetons at Sunrise (2008)

  1. We are the least obese region in the country, with all of our 3 the five states in the region being the healthiest in the country, and the other 2 being one step above of that (lets not get into the fact that you can go across the country and find consistently at *at least* 1 of every 4/5 people is obese).  Lets face it, better looking people have more fun :) (check this data map for the last 20 year obesity rates).
  2. The National Parks.  The south may have the most visited National Park, but we have the first and they are by far the most scenic are out here.  The first National Park (Yellowstone) is in Wyoming, along with the First National Monument (Devils Tower) and so is Grand Teton National Park.  Along with these, we have Rocky Mountain, Black Canyon of the Gunnison and Mesa Verde National Parks (CO), Arches, Canyonlands, Bryce Canyon, Capitol Reef and Zion National Parks(UT), Craters of the Moon National Monument (ID) and Glacier National Park (MT).  That is a lot of scenery, and I can personally attest to the beauty of all but 3 of them (in bold).  I wont bore you with pictures or anything, but they help make this region what it is.
  3. If it wasn’t for the West, One of the greatest presidents in the history of this country may never have been president. Yes, It has often been said that without going to the west, Teddy Roosevelt would never have amounted to what he did.  Here he ran 2 ranches, spent much of his time tending his heard, and turned from a sickly, ashmatic waif of a boy to the barrel chested man that we know him as.
  4. On Highways throughout the west the speed limit is 75.  The best part about that is, you can actually do that (and a little more, if inclined).  There are rarely cars on the highway, and you will arrive at your destination faster.  It’s not like Los Angeles or Washington, DC where you sit in traffic all morning.  Let me give you an example.  I drive 50 miles (1 way) to work, yet I spend around 40 minuets in the car during my commute.  People in larger cities spend more time than this going half the distance.
  5. Sunshine.  Each state in the Mountain west can claim more than 310 days of sunshine per year.  I know California is sunny, but personally I’ve been to both coasts on trips for 3 days each, and never once saw the sun in either place.  Boy, was it good to be back where you could see the sun.  *I’m not saying is does not get cold here* because it does, but even then, the sun is out.
  6. The Snow.  I know that Financial Samurai thinks that California has some good snow (they do) but he has probably never skiied one of the many resorts in Colorado or Utah.  There is a resort in colorado that has trademarked the name Champagne Powder because of how light, fluffy and plentiful the powder.  It makes Heavenly in Tahoe feel like you’re riding through play-dough.
  7. Like the South, we have a “work to live” mentality, but we dont dress up for it!  One guy I know who works out here recently shared a picture of himself in a business suit.  He said “don’t tell anyone I own this.” So I didnt.  We dont really wear formal clothing around here, and it’s great.  Who doesnt want comfort?
  8. The Wild, Wild West. Have you ever heard of the “Wild, Wild East”?  No.  That’s because it never existed.  When the west was being setteled in the 1800s and early 1900s, crime was rampant in cities and out.  Legends were made, trains were robbed, cattle were rustled (that means stolen) and the west was well on its way to earning a name for itself.  It’s even home to Butch Cassidy, Jesse James, and famous gangs like the Daltons and The Hole in the Wall Gang
  9. Cheap Cost of Living.  If I were to move, to one of the coasts, I’d need my salary doubled to maintain my current standard of living, which is not high.  ’nuff said.
  10. Everyone is friendly here.  When I thought I was having some trouble with my car about 7 months ago, I pulled off the highway to check it out and 2 people had stopped within 10 minutes.  They’ll do that for everyone who is having trouble around here.  It makes friends easy to come by.
  11. We are huge energy exporters.  Those lights you’ve got on right now?  They very well could be provided by coal from Wyomings Powder River Basin.  Please use wisely!
  12. It hardly ever rains.  This place is considered “aird high plains” but what that really means is that if it were not for snow around here, it’d be a desert!

I think I’ll stop there.  So what do you readers think?  Is there any one place you’d prefer over the other?
To you other Yakezie Bloggers: Is there anyone from the Plains (Kansas, No Dakota, So Dakota) The Midwest, or The Southwest (Texas, Arizona, New Mexico, Oklahoma)?  We’d love to include your post!

Friday Fun

I’ve seen these done at other blogs, so I figured that I’d share mine.  Some of these are definitely strange, some have some meaning behind them, and others I cant even explain, but I’ll try to answer just the same.  Below are some of the search terms that people googled to get to my blog.  And for the record, I googled some of these terms and my blog was not on the first page (which I’m not surprised about) so these people must have been bored.

xeriscape – A factor of 10 over any other of the search terms.  I’m assuming it’s related to this post about water efficiency

sustainable life – Yup, you made it to the blog.  If you want an actual sustainable life, keep reading, I’ll help as best I can

no self control with my finances – If this is you, email me.  I feel your pain and I’ll try to help.  Find my contact info in the “about” section

monster truck for sale – Wow.  The only post that I have that even mentions a truck is this one, and it does did have a picture of a monster truck

nataliedee.com No idea on this one.  Bad Google.

dual flush – It’s always worth it to look into dual flushing.

allyn mansion – Apparently, this is in Delavan, Wisconsin.  I’ve never heard of it, nor have I ever been there.  I Hope this person found it though.

impounded vehicles stolen fort worth – Once again, I hope you find your car, dude.  No idea how this person ended up here.

remove the lid on dual flush toilet - Don’t Do it, man.

sustainability definition”sustainability – This makes me think I should have that floating around here somewhere.  It’s also long and quite drawn out, and full of academic-ese.  Not so sure it would fit.

dams and levees ruin the water cycle – Yes, they do sometimes.  They also help farmers and prevent flooding.

101 goals in life – Dont Copy mine, you need your own goals dude.

this sustainable life 09 – This sounds like an NPR Show waiting to happen.  NPR: Call me if you want me to be featured.

Weekly Links – Summer Edition

Welll, now that it’s june, I’m pretty  confident that its not going to snow again – although not positive.   Along with working (probably more now than I figured even yesterday at this time, I’m looking forward to camping, hiking, hopefully some swimming and a vacation (maybe).  I’m also looking forward to parades and rodeos all summer long!

What do you like to do during the summer?  Put your answers in the comments, or post about it!

Credit: vickigibson, flickr

Finance Posts

I started reading the girl with the red ballons blog about 2 weeks ago, and It’s great.  In a post this week, she talks about how to donate your wedding dress.

Carrie from Carrie…On the cheap talks about what to do after having a brain dump huge test.  I know the feeling after a huge test/project when you just want to turn off your brain for a while.  It’s usually a good time to get some exercise in!

My Pretty Pennies talks about how her favorite date cost $17.  Keep this in mind during your summer romances, readers! You don’t have to have money to impress someone.

Stacking pennies updates her net worth. She’s moving in the right direction!

Wealth Pilgrim talks about 7 Unique ways to put retiree’s to work

I just discovered Little House in The Valley, and her blog is AWESOME!  She’s working on biking more each month and paying down her debt in her may review, and had an interesting post on how she was rich last sunday.

Environmental Posts

Biodiesel from sludge’s price went down! I’ll be talking more about this next week, but now the price is almost the same of conventional diesel

Designing for Extreme Affordability:  Why are people not doing more of this?

Another City going Green.  This time it’s Toronto, who gave its city hall a green roof

Here are some of the places that Sustainable Life Blog has appeared in the last week

Matt Jabs’ Gardening Saves Money Link Rally at Debt Free Adventure!

Memorial Day Rememberance and Links at Free From Broke

Yakezie Weekly Round-up at Engineeryourfinances

The Health Carnival #156 at fitbuff with my post on getting a water bottle

Carnival of Financial Planning #142 at The Digerati Life

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